Quote from: Max Stirner on July 28, 2011, 08:37:18 PM

Anarcho capitalist Hans Hoppe has pointed out, how insurance companies
could function as a replacement for state law in a private law society.

http://www.youtube.com/watch?v=pzglDS88u50&feature=player_embedded#at=54

The state in it's current form is nothing but a limited liability insurance scheme. The strict liability of common law has been abandoned for statutory and other conditional limits. It's hidden well from the populace.
The state is just forced placed insurance provided at the end of the barrel of a gun.

In regards to the topic, i don't think anyone's wallet needs to be insured. Avoiding single point of failure scenerios is the all the insurance anyone needs in that case.